Tavistock Wealth Library

February 2020

ACUMEN ESG Protection Portfolio

ACUMEN ESG Protection

Portfolio Factsheet

ACUMEN ESG Protection

Portfolio Brochure

Environmental, Social &

Governance Investing

Tavistock ESG

Investment Policy

Tavistock Wealth Literature

Tavistock Wealth Rolling

12-Month Review

Quarterly Perspectives –

Q4 2019

Quarterly Perspectives –

Q1 2020

Tavistock PROFILES

Brochure

ACUMEN Capital Protection

Portfolio Brochure

ACUMEN Income-Protection

Portfolio Brochure

Due Diligence

Questionnaire

Protection Portfolio

Availability

Dynamic Planner Literature

Research Note

(ACPP & AIPP)

Fund Risk Profiling Report

(ACPP & AIPP)

ACPP

Certificate

AIPP

Certificate

Publications

History of the UK

Stock Market (1925 – 2018)

5 Years Avoiding the Storm:

Stick or Twist?

Market Update:

October 2018

He Who Recommends it

Shall be Liable for it

For more publications please click here

Monthly Portfolio Changes

In February, we made a number of changes to the portfolios. In fixed income, our model pointed to a rotation out of high yield bonds and into US equities based on updated scores for earnings and loan growth. We implemented this in the portfolios by switching 25% of our high yield benchmark allocation. We also reduced our allocation to government bonds, which have rallied aggressively on coronavirus concerns and should pull-back over the coming month. In equities we rotated out of developed markets and into emerging markets. We sold our position in domestic UK equities, which performed well in the immediate aftermath of the general election. The UK market will likely remain range bound until the terms of a trading deal with the EU have been finalised. Emerging market equities have outperformed developed markets during the last few weeks. We believe this trend is set to continue going forward and have implemented a new position in an emerging market ‘ESG’ ETF. We did not make any changes to our investments in commodities or property this month.

Factsheets

ACUMEN Capital Protection Portfolio

ACUMEN Income-Protection Portfolio

ACUMEN Portfolio 3

(Bond)

ACUMEN Portfolio 4

(Conservative)

ACUMEN Portfolio 5

(Progressive)

ACUMEN Portfolio 6

(Adventurous)

ACUMEN Portfolio 7

(Equity)

ACUMEN Portfolio 8

(Strategic)

ACUMEN Income

Portfolio

Tavistock PROFILE 3

Tavistock PROFILE 4

Tavistock PROFILE 5

Tavistock PROFILE 6

Tavistock PROFILE 7

Tavistock PROFILE 8

Tavistock Income

GBP Update

Please see below our monthly Sterling chart, showing the month end GBP/USD rate of 1.28, which is below the 5, 10 and 20-year averages. The chart also highlights Sterling’s purchasing power parity (PPP) as well as Capital Economics’ forecast for a return to 1.45 by the end of 2020.

The value of an investment in the Protection Portfolios, ACUMEN Portfolios or Tavistock PROFILES may fall as well as rise. Past performance should not be seen as an indication of future performance. Source of data: Tavistock Wealth Limited, Thomson Reuters and Lipper for Investment Management unless otherwise stated.